Notice of Pending Bond Ordinance and Summary
The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the Township Council of the Township of Deptford, County of Gloucester, State of New Jersey, held on June 22, 2026. It will be further considered for final passage, after public hearing thereon, at a meeting of the Township Council to be held at 1011 Cooper Street, Deptford, New Jersey 08096, New Jersey on July 6, 2026 at 6 o’clock PM. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Township Clerk’s office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows:
Title: BOND ORDINANCE AUTHORIZING THE COMPLETION OF VARIOUS CAPITAL IMPROVEMENTS IN THE TOWNSHIP OF DEPTFORD, COUNTY OF GLOUCESTER, NEW JERSEY; APPROPRIATING THE SUM OF $2,500,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE TOWNSHIP OF DEPTFORD, COUNTY OF GLOUCESTER, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $2,375,000; MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING
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Purpose/Improvement
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Estimated Total Cost
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Down Payment
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Amount of Obligations
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Period of
Usefulness
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A.
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Reconstruction and/or Repaving of Various Streets as part of the Township's 2026 Road Program, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto, all as more particularly described in the documentation on file in the Office of the Township Clerk and available for inspection during normal Township hours
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$2,150,000
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$107,500
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$2,042,500
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10 years
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B.
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Various Stormwater Repairs and Improvements, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto
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350,000
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17,500
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332,500
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40 years
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Appropriation: $2,500,000
Bonds/Notes Authorized: $2,375,000
Grants (if any) Appropriated: $0
Section 20 Costs: $475,000
Useful Life: 14.20 years
DEBRA WILLARD, Acting Municipal Clerk
This Notice is published pursuant to N.J.S.A. 40A:2-17.